India Newsletter- December 2021

ISSUE 108

Focus Sector:

INDIA NEWSLETTER

DECEMBER 2021

News

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Snapshots of the latest Highlights

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Delhi Metro become

the fourth largest network in the world to operate with driverless technology over 97 kilometres.

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India’s exports rose

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domestic product (GDP) to be 10-10.5% in the FY22 Byju's has acquired the from an earlier expectation Austria's headquartered of a 9% growth. startup GeoGebra in a US $ 100 million deal as it India’s solar energy scales its onine learning capacity stands at ~45 platform. gigawatts, an increase of More than 1.25 billion 17X in the last seven years, vaccine doses have been stated India while provided to States/UTs of presenting its third Biennial India so far through Govt Update Report (BUR) in the of India (free of cost 11th Facilitative Sharing of channel) and through Views (FSV) at the COP26 direct state procurement climate summit. category.

Indian Edtech giant

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18.8% to US$ 20.01 billion during the three week period of month (November 1-21), owing to strong growth in sectors such as petroleum products, engineering goods, chemicals and gems and jewellery, according to the According to preliminary data of the International Data commerce ministry.

Corporation (IDC), Indian IT and Business Services According to S&P market logged a 6.4% y-oGlobal Market Intelligence y growth in the first half of study, India remained to 2021 and was valued at lead fintech investments US$ 6.96 billion. The in the Asia-Pacific (APAC) research firm stated that region with US$ 1.93 the IT and Business billion raised across 66 services sector recorded a deals in the third quarter 5.1% growth in the first of 2021. half of 2020.

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Accenture

and

Microsoft in India are helping 10 start-ups that emphasis on social impact and sustainability, by assisting them to scale their budding solutions and business models. The joint programme, called Project Amplify, is Asia Pacific-wide and accelerates the growth of 33 start-ups from across the region.

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As

per

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World

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The Union government

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According to data from

added >100 advanced technologies, including alternate fuel systems such as compressed natural gas (CNG), under the production-linked incentive (PLI) scheme for the automobiles.

the National Payments Corporation of India (NPCI), Unified Payments Interface (UPI) crossed US$ 100 billion in a month for the first time in October, further cementing its position as India’s most popular digital payments system.

Economic Forum report, India’s transition to a green economy has the potential to contribute >US$ 1 trillion in economic impact by 2030 According to and generate >50 million employment opportunities. provisional data released by the government, India's merchandise exports in According to Brickwork October rose 42.33% to US$ Ratings, growth estimate 35.47 billion. for the India’s gross

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INDIA NEWSLETTER . 1

Export Promotion Council of India

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BASIC CHEMICALS, COSMETICS & DYES EXPORT PROMOTION COUNCIL (CHEMEXCIL) Basic Chemicals, Cosmetics & Dyes Export Promotion Council popularly known as CHEMEXCIL (www.chemexcil.in) is set up by Ministry of Commerce & Industry Government of India in the year 1963 with the objective of promoting exports of Dyes and Dye Intermediates, Basic Inorganic & Organic Chemicals, including Agrochemicals, Cosmetics, Soaps, Toiletries & Essential Oils, Specialty Chemicals, Lubricant & Castor oil from India to various countries abroad.

One of the main roles of CHEMEXCIL is to be an interface with the Industry and the Government of India to formulate Export-oriented Policies and to create a favorable environment to augment exports of the above items from India.

The present total membership strength of CHEMEXCIL, comprising of Large Scale & Micro, Small, Medium Scale Manufacturers and Merchant Exporters is more than 3500.

Assistance to Indian Members • • • • • • •

Identifying Potential Markets Disseminating trade enquiries & contacts Organizing Trade shows and trade delegations to various countries abroad Representing Indian Pavilion in established international shows/exhibitions Organizing capacity building, skill development Programs & seminars Highlighting Export Constraints and operational bottlenecks Providing Publicity and marketing back up Assistance to overseas buyers

Assistance to overseas buyers • • • • •

Sourcing Chemicals from India Locating appropriate suppliers Organizing Reverse Buyer - Seller meets Providing up-to-date market information Host related services-Hosting foreign delegations Mr. Prafulla Walhe Dy. Director BASIC CHEMICALS, COSMETICS & DYES EXPORT PROMOTION COUNCIL (CHEMEXCIL) (Set-up by Ministry of Commerce & Industry, Government of India) Jhansi Castle, 4th Floor, 7 Cooperage Road, Mumbai - 400001. India.

Tel : +91 22 2202 1288/ 1330 Fax: +91 22 202 6684 Email: pwdd@chemexcil.gov.in Website : www.chemexcil.in

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News Articles

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Western Union Bolsters Real-Time Account Payout Capability with NPCI International Payments Limited: NPCI Western Union, a global leader in cross-border, crosscurrency money movement and payments, and NPCI International Payments Limited (NIPL), the International arm of National Payments Corporation of India, have signed a Memorandum of Understanding (MoU) to bolster real-time1 bank account payouts in India.

NIPL is a wholly owned subsidiary of National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India and an initiative of the Reserve Bank of India (RBI).

This collaboration will enable customers in India to receive international money transfers in real time into their bank accounts in the country.

“Western Union’s account payout network enables payout into billions of accounts globally - these accounts are not just limited to bank accounts; it’s any consumer account globally, whether it be at a bank or even a mobile wallet or card,” said Sohini Rajola, Head of Middle East and Asia Pacific, Western Union.

“Customers want more, and our account payout network capability represents a natural evolution in Western Union's cross-border platform and omni-channel strategy to reach new digital-savvy, banked and mobile enabled consumers.”

“We are excited to collaborate with NIPL, expanding and

optimizing our account payout footprint and ultimately further strengthening our joint offering.

India is a strategic market for Western Union and this collaboration is key to our efforts to expand real time payments solutions, expanding the breadth of our current offerings to ensure customers have all the options available to them to move money the way they prefer,” added Rajola.

India is a highly banked country, with 80% of Indian adult holding an account. Bank accounts are one of the pillars of India’s financial inclusion. Over the next few months, the two companies will work closely together to enable bank account holders in India to receive cross-border money transfers seamlessly and instantly, including using UPI IDs. Globally, Western Union can process payouts into billions of bank accounts, including millions of wallets and cards across more than 125 countries and territories, with real-time capabilities in 100 of these countries. Additionally, it also offers payout in cash at approximately 600,000 agent locations in 200+ countries and territories.

NIPL, being an internationally focused subsidiary of NPCI, is looking to drive deep collaboration with overseas partners in the areas of remittance, acceptance, and real-time payments infrastructure, using indigenously developed technologies in digital payments.

“We are delighted to join hands with Western Union to facilitate instantaneous and interoperable cross border digital payments,” said Ritesh Shukla, CEO, NIPL. “This strategic partnership will benefit millions of Indian citizens to seamlessly receive money from overseas. We at NIPL, constantly strive to create a robust and innovative payment infrastructure to create a superior customer experience. We are confident that this initiative will stand as a testimony to NIPL’s technological capabilities and vision of

scaling their globally.”

unique

offerings

According to the World Bank, in 2020, India was the top remittancereceiving country in the world, a spot it has held since 2008.

Western Union serves customers via a range of retail and digital solutions in India, facilitating convenient service access for all.

Currently, Western Union’s agent retail network in India has more than 110,000 locations.

Byju's continues acquisition spree, buys Austrian math-learning co GeoGebra: The Business Standard Byju’s, the world’s most valuable edtech company, has acquired Austria-headquartered GeoGebra.

The Austrian company has a dynamic, interactive and collaborative mathematics learning tool. According to the sources, the value of the transaction is about $100 million. This marks Byju’s 9th major buy this year.

This acquisition complements Byju’s overall product strategy and integrates GeoGebra’s capabilities to enable the creation of new product offerings and learning formats to its existing mathematics portfolio. It furthers Byju’s aim to make math more engaging, leading to better learning outcomes. This synergy of two like-minded companies will bring comprehensive, personalised and immersive learning experiences to all students.

GeoGebra will continue to operate as an independent unit within the Byju’s group under the leadership of its Founder and Developer, Markus Hohenwarter.

"The GeoGebra team has built a powerful and stimulating platform that complements Byju’s mission of providing impactful learning for students. Designed to improve mathematical understanding, it offers significant features that provide interactive resources that INDIA NEWSLETTER . 3

News Articles

................................................................................................................................................ adapt to every child’s style and pace of learning,” said Anita Kishore, chief strategy officer, Byju’s. “At Byju’s, with the help of innovative teaching and technology, we have been making math fun, visual, and engaging. And with GeoGebra on board, we will continue to further enhance, reimagine and transform the way Math is taught and learned."

The company, which will celebrate 25 years of operations in the country in the next two years, believes it can grow its business in the country ten times faster than it is now, and that it will not take another 25 years to do so.

Mr. Pant said, "Our India business has 10 times the potential that it has," he remarked, with confidence.

"This can be benchmarked with any of our successful markets in Asia, GeoGebra, with a rapidly like Thailand, China, or Korea, expanding community of over where our businesses have similar 100 million learners across scale." over 195 countries, brings together geometry, algebra, India's payments spreadsheets, graphing, transaction volumes grew statistics and calculus in one 53% in 12 months: The easy-to-use format.

Mathematical thinking is Livemint grounded in visual processing and GeoGebra’s interactive, The rise in volume and value of multilingual, and stimulating payments transactions, including learning environment makes that of Real Time Gross Settlements math contextual, fun and (RTGS) and digital payments, in the visual. The companies didn’t last 12 months has outpaced the reveal the value of the growth clocked in the last five years. transaction.

Launched in 2015, Byju’s is a leading firm in offering personalized learning programs for school students in India. It has over 115 million students cumulatively learning from the app, 7 million annual paid subscriptions, and an annual renewal rate of 86 per cent.

Amway sees India as one of top 3 priority mkts, aims scaling up Indian biz to US$ 2.65 billion in long term: IBEF Amway, one the world's largest direct selling company, has high hopes for India, aiming to grow its business to US$ 2.65 billion in the long run after naming India as one of its top three global priority markets, alongside the United States and China, according to its global CEO Milind Pant.

According to P. Vasudhevan, chief general manager, Payment and Settlement Systems, Reserve Bank of India (RBI), the rate of growth of payments transactions has surged 53% in volume terms and 28% in value terms in the last 12 months.

Vasudhevan, who was speaking at the Digital Money Conference organized by the Payments Council of India (PCI), said the compounded annual growth rate (CAGR) for the last five years was 42% in volume terms, which is a sign that the growth during the last 12 months has outpaced that in the last five years.

“Today, we process around 2.86 million payments transactions on a daily basis. It is heartening to recollect that in December last year the RTGS was made operational 24x7x365.

Till date, many initiatives have been undertaken to capitalise on this," he said. “The payment systems like NACH, Bharat Bill Payment were enabled to settle on weekends.

The number of settlements in a week has increased by 200, thereby bringing down the credit and settlement risks in the ecosystem," he added.

On 1 December, Minister of State (MoS) for Electronics and Information Technology (IT), Rajeev Chandrashekhar, told the Parliament that digital payments had grown from 412.49 million USD in FY 2019 to 616.38 million USD till mid-November 2021. The country had recorded 601.77 million USD digital transactions in FY 2020 and the Government expected the number to grow to 731.02 million USD in FY 2021.

About 1,65,000 EVs supported as on Nov 25 under Phase-2 of FAME India scheme: IBEF Ministry of Heavy Industries formulated Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) India phase-2 scheme has supported 164000 Electric Vehicles (EVs) as of November 25 as informed in the parliament. Demand incentive for the scheme amounted US$ 71 million.

Phase-2 of the scheme came into effect from April 1, 2019 with a total budgetary support of US$ 1,332 million and aims to support 7000 e-buses, 5,00,000 e-three wheelers, 55,000 e-four-wheeler passenger cars and 10,00,000 etwo wheelers through subsidies.

Ministry of Heavy Industries has sanctioned 2,877 EV charging stations amounting to US$ 66 million in 68 cities across 25 states/UTs and 6,315 electric buses to various state/city transport undertakings.

INDIA NEWSLETTER . 4

Economic Diplomacy

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The Government of India's Ministry of External Affairs (MEA) launched a website on Economic diplomacy. The website showcases India's economic, sectoral, and State-wise strengths that make for an attractive economic partnership. It aims to provide critical and relevant information on major economic indicators, central and state government policy updates as well as the latest business news and trade data.

For more information kindly visit:

http://indbiz.gov.in/

Power house of the Indian Electrical Industry

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www.cpri.res.in

Central Power Research Institute (CPRI) is a premier institute of India offering services in the areas of applied research in electrical power engineering, testing & certification, consultancy/field testing and capacity building/training programmes. CPRI is the largest Testing Laboratory with unique facilities/credentials at par with any other International Laboratory performing activities of similar nature.

Services of CPRI: • Applied Research in Electrical Power Engineering • Testing & Certification of Power Equipment • Consultancy and field-testing services to Power Utilities and Industry Third Party Inspection and Vendor Analysis • Organizing Customized Training programs for Utilities and Industries.

• Enter into mutual recognition agreement with partner institutes in other countries.

INDIA NEWSLETTER . 5

Industry Report

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AVIATION INDUSTRY The civil aviation industry in India has emerged as one of the fastest growing industries in the country during the last three years. India has become the third largest domestic aviation market in the world and is expected to overtake UK to become the third largest air passenger market by 2024.

Market size: India’s domestic and international aircraft movements reached 1,062 thousand and 135 thousand, respectively, in FY21.The expenditure of Indian travellers is expected to grow to US$ 136 billion by 2021.

To cater to the rising air traffic, the Government of India has been working towards increasing the number of airports. As of 2020, India had 153 operational airports. India has envisaged increasing the number of operational airports to 190-200

by FY40. Further, the rising demand in the sector has pushed the number of airplanes operating in the sector. The number of airplanes is expected to reach 1,100 planes by 2027.

According to the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflow in India’s air transport sector (including air freight) reached US$ 3.06 billion between April 2000 and June 2021.

The government has allowed 100% FDI under the automatic route in scheduled air transport service, regional air transport service and domestic scheduled passenger airline.

However, FDI over 49% would require government approval.

Ministry of Civil Aviation launched the Krishi UDAN 2.0 scheme in October 2021. The scheme proposes assistance and incentive for movement of agriproduce by air transportation.

The Krishi UDAN 2.0 will be implemented at 53 airports across the country, largely focusing on Northeast and tribal regions, and is expected to benefit farmers, freight forwarders and airlines. India’s aviation industry is largely untapped with huge growth opportunities, considering that air transport is still expensive for majority of the country’s population, of which nearly 40% is the upwardly mobile middle class.

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States and Union Territorys(UT) of India

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INDIA DIGITAL MAP

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Trade Fairs/ Webinars

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INTERESTED IN VISITING A TRADE SHOW IN INDIA? In case your company is interested in visiting a tradeshow/B2B event in India, be it one listed here or another one that came to your attention, get in contact with us via comm1.vienna@mea.gov.in to get more information about possible assistance/subsidies.

INDIA NEWSLETTER . 8

Incredible India

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Gujarat

www.gujarattourism.com

Vibrant Gujarat stretches out into the Arabian Sea, with a hint of the desert and a coastline of 1600 km. It is the home state of Mahatma Gandhi, the Father of the Nation. It is renowned for its beaches, temple towns and historic capitals. Wildlife sanctuaries, hill resorts and natural grandeur are gifts of Gujarat. Sculpture, handicrafts, arts, festivals also make the state rich.

Gujarat is also among the most technologically advanced, housing the largest petrochemical complex in the country.

Top Attractions and Things to Do in Gujarat:

Tourism Attraction Statue Of Unity October 31st, 2018, marked the inauguration of the world’s tallest statue – the Statue of Unity, against the backdrop of the dramatic Satpura and Vindhyachal hills in Kevadia, Gujarat. The 182-metre (600 feet approx.) statue is dedicated to Sardar Vallabhbhai Patel, the architect of independent India.

The colossal monument towers over River Narmada, a tribute to India ‘from the people of Gujarat’ to the leader who placed people’s welfare first. The Statue of Unity overlooks a vast area, including the river basin of the Narmada and the sprawling Sardar Sarovar dam.

Cuisine “Surat ka jaman aur Banaras ka maran” is a popular saying in Gujarati, which means dining at Surat and dying at Varanasi, is the way to heaven. One of the thrills of traveling to Gujarat is its cuisine.

The people of Gujarat have perfected the art of vegetarian cooking and their cuisine is delectable and mouth watering. To taste the excellent vegetarian Gujarati cuisine, is to have a Thali Meal – the ultimate delightful vegetarian fare.

The traditional Gujarati Thali is one of the best ways to know the Gujarati cuisine.

Saurashtra’s typical seasonings – mustard seed, turmeric, pounded red chillies, cumin and coriander – flavour Gujarat's distinctive vegetarian cusine.

Culture The whole state of Gujarat is highly opulent with godly places of pilgrimage and holy temples like Ambaji, Somnath, Dwarka, Palitana, Girnar, and Dakor. Gujarat has an array of a rich variety of crafts. Its embroidery, bead work, wood crafts, printed and woven clothes, pottery and tribal art are expressions of folklore and festivals.

The exclusive range of these works of craftsmen imbued with the social and cultural hue of the region from where they have sprung are original in nature and craftsmanship. Today far moved from the hut or the village of the craftsman, pieces of handicrafts come to adorn the houses of the elite, the five-star hotels both at home and abroad.

INDIA NEWSLETTER . 9

India's Vaccination Drive

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India Is Running The World’s Largest Vaccination Drive For more information visit: www.cowin.gov.in

India Perspectives Magazine Online

.............................................................................................................................................. www.indiaperspectives.gov.in India Perspectives, the flagship magazine of the Ministry of External Affairs. The magazine is printed in 16 languages and goes to 170 countries, disseminating interesting information about India’s rich culture and tradition. For a copy of the magazine, mail us at: poip@mea.gov.in

INDIA NEWSLETTER . 10

Guide for Travellers - Baggage Rules

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The Central Board of Indirect Taxes and Customs(erstwhile Central Board of Excise & Customs) launched a mobile app “Indian Customs -Guide to Travellers” for dissemination of information about the Customs Baggage Rule, 2016.

The application has been launched to inform traders, exporters and importers about the Customs Baggage Rules 2016. It has been developed by Bengaluru Customs and is available on Android Play store, Apple Store and Windows store.

Guide for Travellers

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APP

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DIKSHA- E- Learning App

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Indian Embassy Library

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■■ The Embassy’s library is opened daily from 10 am to 1 pm without appointment.

■■ Our collection contains more than 3000 titles in dozens of categories.

■■ For appointments outside the opening hours or other inquiries, please contact us under info.vienna@mea.gov.in or 015058666 - 44

■■ Download our latest catalog of books under Library Catalog

INDIA NEWSLETTER . 12

Notice Board

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EMBASSY’S LIBRARY ■■ The EMBASSY’S library is open DAILY from 10am to 1pm without appointment.

■■ For a complete list of books available in our library, visit our website www.eoivienna.gov.in .

■■ For scheduling an appointment outside the opening hours, please contact the information assistant under info.vienna@mea.gov.in or 01 505 8666 - 44

BUSINESS CENTRE ■■ The EMBASSY’S Business Centre is opened DAILY from 10am to 1pm.

■■ For scheduling an appointment outside the opening hours, please contact the commercial wing under : comm1.vienna@mea.gov.in or 01 505 8666 - 31

STUDENTS WELFARE OFFICER ■■ Mr. Rishi Tripathi, Second Secretary in this Embassy has been designated as Officer to look after welfare of Indian Students in Austria and Montenegro.

■■ His contact details are: 0043 1 505 866 and ccl.vienna@mea.gov.in

YOGA CLASSES ■■ The Embassy has started Yoga Classes from 1.07.2021- 4-5pm in multipurpose hall at Embassy of India, Vienna. To register please send an email to our Cultural Wing at culture.vienna@mea.gov.in

MINISTRY OF EXTERNAL AFFAIRS GOES MOBILE ■■ Avail services : passport, visa, consular assistance ■■ Ask your Minister : on the go, anytime, anywhere ■■ Follow your PM : on his visits abroad ■■ Find the nearest Indian Mission/Post : for emergency consular assistance ■■ Be informed : about India’s Foreign Relations on the move and form your own opinions ■■ Know more : about how to undertake Kailash Manasarovar Yatra and Haj Pilgrimage ■■ Download and watch : pictures & documentaries on India ■■ Play and Personalize : what you need, when you need ■■ Share and contribute : your views, pics & suggestions Ministry of External Affairs proudly presents “MEAIndia” – an integrated smart app for mobile and other hand held devices ‘MEAIndia’ is now available for download on App Store and Google Play Store.

FACEBOOK & TWITTER ■■ Our Facebook and Twitter pages target the India-Austria community and covers subjects such as Business, Culture, Embassy News, India-related events and programmes in Austria, and much more.We have reached the 17600 followers mark on Facebook!

'Like' our facebook page and be the first to know!

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INDIA NEWSLETTER

Disclaimer: Information collected in our Newsletter is through secondary research and Embassy of India, Vienna is not responsible for any errors in the same.

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